Stock Market Today: Sensex Rallies 1000 Points, Nifty Hovers Above 25,500 As Benchmark Indices Gain For Third Straight Day

Share Market Today: The headline indices continued to rally for the third straight day on June 26. The Sensex rallied 1000.36 points or 1.21 per cent to close at 83,755.87. On the other hand the Nifty 50 finished the session at 25,549 up by 304.25 points or 1.21 per cent. The sharp gains came amid rising optimism regarding continued stability in West-Asia following the ceasefire announcement made two days ago.

Shriram Finance and Jio Finance Lead Gainers

Shriram Finance, Jio Finance and Tata Steel led gainers among Nifty 50 stocks on June 26 as they closed higher by as much as 3.69 per cent on the NSE. Other major gainers included Bharti Airtel and Hindalco Industries, which closed higher by up to 2.54 per cent. On the other hand, stocks of Dr Reddy’s Laboratories, Tech Mahindra and Wipro Ltd led the losers closing lower by as much as 1.31 per cent. Notably, the benchmark index saw 11 declines and 39 advances on June 26.

SMID Indices Rally For Fifth Straight Day

The rally in the SmallCap and MidCap indices (SMID) continued for the fifth straight day on June 26 as the Nifty SmallCap 100 and the Nifty MidCap 100 closed 0.42 per cent and 0.59 per cent higher, respectively. On the other hand, sectoral indices such as the Nifty Bank, Nifty Metal and the Nifty Oil & Gas finished the session higher by 1.03 per cent, 2.31 per cent and 1.86 per cent, respectively, and came out as top sectoral gainers. Additionally, the Nifty Bank index rallied to record a fresh 52-week high at 57,076.95 levels today. However, amid the rally in the broader market the Nifty IT and Nifty Realty index closed lower by 0.13 per cent and 1 per cent, respectively.

Global Markets on June 26

Wall Street indices closed the session mixed on June 25 as the Dow Jones Industrial Average finished the session lower by 106.59 points or 0.25 per cent and the Nasdaq Composite closed 61.02 points or 0.31 per cent higher. On June 26, Japan’s Nikkei 225 finished the session higher by 642.51 points or 1.62 per cent at 39,584.58. Other Asian indices such as the Shanghai Composite and Hang Seng closed lower by 0.22 per cent and 0.61 per cent lower, respectively.

Primary Market Action On June 26

On June 26 as many as four SME issues opened for subscription these included PRO FX Tech IPO, Ace Alpha Tech IPO, Valencia India IPO and Moving Media Entertainment IPO. On the other hand the mainboard issue of Indogulf Cropsciences IPO also opened for subscription today.

Market Cues On June 26

D-street remained buoyant amid positive global cues as investors anticipated stability to prevail in the Middle East. Closer home Reserve Bank of India stated in its June bulletin that several indicators indicate resilient activity across industrial and services sectors. The market is expected to factor in the positive cues and lookout for any further developments in the Iran-Israel de-escalation.